Bangladesh: Marine Gps Navigator Market 2024

Marine Gps Navigator Market Size in Bangladesh

The Bangladeshi marine GPS navigator market fell sharply to $X in 2022, waning by -55.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a resilient increase. Marine GPS navigator consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Marine Gps Navigator Exports

Exports from Bangladesh

In 2022, overseas shipments of marine or river navigation instruments and appliances increased by 110% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 333% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, marine GPS navigator exports surged to $X in 2022. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 207%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for marine GPS navigator exports from Bangladesh, with a 30% share of total exports. Moreover, marine GPS navigator exports to Belgium exceeded the volume sent to the second major destination, Lithuania (X units), threefold. The third position in this ranking was held by Singapore (X units), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium stood at +526.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+28.5% per year) and Singapore (-5.0% per year).

In value terms, Lithuania ($X), Singapore ($X) and Belgium ($X) appeared to be the largest markets for marine GPS navigator exported from Bangladesh worldwide, with a combined 50% share of total exports.

Among the main countries of destination, Belgium, with a CAGR of +599.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average marine GPS navigator export price amounted to $X per unit, waning by -3.6% against the previous year. Over the period under review, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 61%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Marine Gps Navigator Imports

Imports into Bangladesh

In 2022, the amount of marine or river navigation instruments and appliances imported into Bangladesh reduced notably to X units, which is down by -45.6% against the previous year. Over the period under review, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 581%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, marine GPS navigator imports contracted notably to $X in 2022. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 287%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Norway (X units), China (X units) and Singapore (X units) were the main suppliers of marine GPS navigator imports to Bangladesh, together accounting for 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +107.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of marine or river navigation instruments and appliances to Bangladesh, comprising 60% of total imports. The second position in the ranking was taken by Norway ($X), with a 27% share of total imports. It was followed by Singapore, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +135.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+6.3% per year) and Singapore (+0.3% per year).

Import Prices by Country

The average marine GPS navigator import price stood at $X per unit in 2022, with an increase of 30% against the previous year. Over the period under review, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of 177% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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